This paper examines the effect of governance on inequality, specifically if improvements in the World Bank’s Worldwide Governance Indicators affect inequality as measured by two Gini coefficients: Market Gini, before taxes and redistribution, and Net Gini, after taxes and redistribution. The data for the Gini measurements was taken from the Standardized World Income Inequality Database (SWIID) and the data for the Worldwide Governance Indicators was taken from the World Bank. Data for fifteen (15) years, from the start of the Worldwide Governance Indicators until 2013, was combined with data from SWIID for the same years. In all, data from one hundred fifty-six (156) countries with a full set of six (6) indicators for the years that had at least one corresponding Gini measurements were used in this study: in total one thousand seven hundred and forty-seven (1747) observations. In a pooled OLS regression, controlling for growth with the variable GDP per Capita expressed as a per cent (%) change on an annual basis, the individual indicators gave the following results, where a positive sign indicates increased inequality and vice versa: Control of Corruption and Regulatory Quality showed a positive sign for both Gini measurements. Rule of Law, Government Effectiveness, Political Stability and the Absence of Violence/Terrorism, gave a negative sign for both Gini measurements. Voice and Accountability showed a positive sign for Market Gini and a negative sign for Net Gini. The fact that an improvement in Control of Corruption increased inequality both before and after taxes and redistribution was unexpected and should be further researched.

nÃo hà / Em um contexto no qual os mercados estÃo mais unificados entre os paÃses, a estabilidade na conjuntura econÃmica de uma naÃÃo torna-se um determinante para o desempenho do comÃrcio internacional, de onde as polÃticas econÃmicas adotadas pelos governos influenciam diretamente o desempenho das exportaÃÃes, ora retraindo, ora expandindo o seu desempenho. A taxa de cÃmbio e a renda mundial, como determinantes do desempenho da exportaÃÃo, tÃm sidos discutidos ao longo dos anos e vÃm merecendo bastante atenÃÃo por parte dos agentes econÃmicos, pois seu incremento pode significar maior geraÃÃo de renda e emprego. Diante disso, este trabalho propÃe-se caracterizar o perfil do setor de exportaÃÃo do Cearà e testar a possÃvel relaÃÃo de existÃncia no longo prazo, bem como o grau de influÃncia, das variÃveis taxa de cÃmbio e renda mundial sobre o desempenho das exportaÃÃes do estado do Cearà para o perÃodo de 2000 a 2012. A metodologia adotada consiste na utilizaÃÃo do modelo VAR mais completo denominado de vetor e correÃÃo de erros (VECM). Os resultados apontam que, no longo prazo, a taxa de cÃmbio e a renda mundial sÃo relevantes para explicar oscilaÃÃes ocorridas na variÃvel dependente exportaÃÃo. Por outro lado, no curto prazo, a anÃlise apresentou certa defasagem de tempo para que os desequilÃbrios ocorridos no curto prazo sejam corrigidos no longo prazo. Comportamento idÃntico se verificou na utilizaÃÃo da funÃÃo impulso resposta e na decomposiÃÃo da variÃncia do erro. / In a context where markets are more unified between countries, the stability of the economic situation of a nation becomes a crucial factor for the performance of international trade, where the economic policies adopted by governments directly influence the performance of exports, now retracting, now expanding its performance. The exchange rate and world income as determinants of export performance, solids have discussed over the years and deserve close attention on the part of economic agents, because its increase can mean greater income generation and employment. Thus, this study aims to characterize the profile of the export sector in Cearà and test the possible relationship of existence in the long term as well as the degree of influence of the variables exchange rate and world income on the export performance of the state Cearà for the period 2000-2012. The methodology of this study adopted the most comprehensive VAR model called vector and error correction (VEC). The results show that, in the long run, the exchange rate and world income are relevant to explain oscillations in export dependent variable. On the other hand, in the short term, the analysis showed some lag time for imbalances occurring in the short term will be corrected in the long run. Identical behavior was found in the use of impulse response functions and variance decomposition of the error.

FundaÃÃo de Amparo à Pesquisa do Estado do Cearà / A taxa de cÃmbio, a taxa de juros e a renda mundial sÃo algumas das variÃveis mais importantes de uma economia, pois, alÃm de intermediarem as relaÃÃes comerciais e financeiras de um paÃs com o resto do mundo, podem servir como incentivo de investimento no setor produtivo, gerando impacto direto sobre as exportaÃÃes. Com efeito, este trabalho propÃe-se testar a possÃvel existÃncia de uma relaÃÃo de longo prazo, bem como o grau de influÃncia das variÃveis taxa de cÃmbio, taxa de juros e renda mundial sobre o desempenho das exportaÃÃes do mel natural brasileiro no perÃodo compreendido entre os anos 2000 e 2011. A estratÃgia empÃrica adotada nesta anÃlise de sÃries temporais foi o uso de um modelo VAR mais completo, denominado modelo vetor de correÃÃo de erros (VECM). Esse modelo reveste-se de significaÃÃo econÃmica, porquanto, em razÃo da dinÃmica comum em seus dados, apresentam componentes de curto e longo prazo. Os resultados mostraram, com suporte na anÃlise da relaÃÃo de longo prazo, que as variÃveis taxa de cÃmbio, taxa de juros e renda mundial sÃo deveras relevantes para explicar as oscilaÃÃes ocorridas ao longo do tempo na variÃvel dependente exportaÃÃo de mel. Jà a anÃlise de curto prazo demonstrou que existe certa defasagem de tempo para que os desequilÃbrios ocorridos no curto prazo sejam corrigidos no longo prazo. Os mesmos resultados tambÃm puderam ser comprovados consoantes os grÃficos das funÃÃes de impulso-resposta e dos relatÃrios gerados no processo de decomposiÃÃo da variÃncia do erro. Quanto à relevÃncia de fatores que poderiam causar quebras estruturais no modelo, constatou-se que apenas o choque na taxa de cÃmbio, decorrido das incertezas do processo eleitoral no Brasil em 2002, e nÃo o choque sobre a renda mundial proveniente da crise econÃmico-financeira em 2008/2009 se mostrou significativo, justificando a inclusÃo de uma dummy no modelo em anÃlise / The exchange rate, interest rate and world income are some of the most important variables of an economy, because in addition to mediate commercial and financial relations of a country with the rest of the world, can serve as an incentive for investment in the productive sector generating direct impact on exports. Thus, the present study proposes to test the possible existence of a long-term relationship, and the degree of influence of variables exchange rate, interest rate and world income on the export performance of Brazilian honey in the period the years 2000 and 2011. The empirical strategy adopted in this time series analysis was the use of a VAR model more complete model called vector error correction (VECM). This model is of economic significance, considering that, given the common dynamic in their data components have short term and long term. The results showed, from the analysis of long-term relationship, the variables exchange rate, interest rate and world income are extremely relevant to explain the oscillations occurred over time in the dependent variable export of honey. As for short-term analysis demonstrated that there is some lag time for imbalances occurring in the short term will be corrected in the long run. The same results also could be seen from the graphs of the impulse response functions and the reports generated in the decomposition process of the error variance. The relevance of factors that could cause structural breaks in the model, it was found that only the shock on the exchange rate, after the uncertainties of the electoral process in Brazil in 2002, and not the shock on income from the global economic and financial crisis in 2008/2009, was significant justifying the inclusion of a dummy in the model analysis. This model is of economic significance, considering that, given the common dynamic in their data components have short term and long term

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